Starbucks Co. (NASDAQ:SBUX) Shares Sold by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 62.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,577 shares of the coffee company’s stock after selling 4,256 shares during the period. Sterling Investment Counsel LLC’s holdings in Starbucks were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vima LLC acquired a new position in Starbucks in the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter worth about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the fourth quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in Starbucks during the second quarter worth approximately $27,000. Finally, Fairman Group LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock valued at $865,514 in the last ninety days. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBUX. UBS Group decreased their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company reduced their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Trading Up 1.7 %

Starbucks stock traded up $1.59 during mid-day trading on Friday, reaching $94.02. The company’s stock had a trading volume of 11,483,711 shares, compared to its average volume of 12,025,455. The firm has a market cap of $106.50 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The business has a 50 day moving average price of $79.51 and a 200-day moving average price of $83.90.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.43%. Starbucks’s dividend payout ratio is presently 62.81%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.